New Life for Vacant Dearborn Hotel?
A new, never opened hotel on Michigan Avenue that has sat vacant for months for lack of financing could soon get thrown a lifeline.
The property, just west of Telegraph on Michigan Avenue adjacent to Toys R Us, is currently in the hands of a bank. The bank took possession of the property when the original developer simply ran out of money and couldn’t finish the project.
Now a second developer is in talks with the bank to purchase the property at a “bargain” price. The deal could close as soon as this month, a person familiar with the ongoing negotiations tells Deepsaidwhat.com.
The out-state potential buyer intends to open the building as a hotel. But it isn’t clear whether the hotel would open as a Holiday Inn Express, as was originally intended, or fly the flag of a different chain.
We’re hopeful a deal will be finalized soon.
November 16th, 2011 at 4:29 pm
lol finally. i thought this was a concentration camp
November 17th, 2011 at 7:17 am
Glad to know that, as I was wondering why the hotel wasn’t opened yet. I’m wondering if it’s the same person/company that was going to open a 2nd hotel on the former Dearborn Theater site that was torn down last year. Either way, does anyone know what the status of the proposed hotel is on the former Dearborn Theater site?
November 17th, 2011 at 8:41 am
Mike: it is back to square one for the theater site and the former location of Wendy’s. Neither the hotel nor Sonic are coming to that vacant land now.
November 17th, 2011 at 9:30 am
Typical of this administration. Screw around with potential suitors, until they get frustrated and change their minds. Jennifer why don’t you and the Big Boys people work in concert, instead of simply nodding your head to anything they suggest, come up with some ideas, and run with them, as I thought you and your organization were supposed to business oriented, instead of just worrying about your free rent, and other perks you mooch from our City tax payers.
November 17th, 2011 at 9:33 am
I see that LA Bistro is moving to a larger location next to Nichols ski.
November 17th, 2011 at 1:52 pm
It’s a go, as far as the hotel site, however, the hookers are looking forward to a new location from the old Red Roof Inn. Business should be brisk being so close to Inkster.
November 20th, 2011 at 10:52 am
Thanks Deep. This is just more bad news for west Dearborn’s Michigan Avenue business district. To mos of us, downtown west Dearborn is from Gulley Road to Brady. Why does the city define it from Military to Brady? Anyone know why?
November 21st, 2011 at 12:33 pm
It my not be for a larger place but maybe because there is some free parking spots. Just saying